The New York Stock Exchange reported that...

The New York Stock Exchange reported that its members’ after-tax earnings fell 47.1% in the third quarter, compared to the previous three months. Analysts said the decline reflected continued weakness in brokerages’ retail business. NYSE member firms’ reported third-quarter profit of $193 million, compared to $365 million in the second quarter and $500 million in the 1987 third quarter. Revenue in the 1988 third quarter was $13.19 billion, the third-highest level ever. Revenue for the 1988 second quarter was $12.45 billion and $13.41 billion in the 1987 third quarter. The NYSE said about 55% of the 378 firms reporting for the quarter were profitable.